Orange County NC Website
37 <br /> prior to the redemption date, or (B) the stated condition is not fulfilled, as <br /> evidenced to the Trustee by a County Certificate, <br /> in either case on or prior to the redemption date, <br /> then redemption will not be made, and the Trustee must, within a reasonable <br /> time, give notice the same way the redemption notice was given that the moneys <br /> were not so received (or condition was not fulfilled) and the redemption was not <br /> made. <br /> (c) Each redemption notice must specify (i) the complete designation of <br /> the 2025 Bonds to be redeemed, including the Series designation, (ii) the CUSIP <br /> numbers of the 2025 Bonds to be redeemed, (iii) the dated dates, maturity dates and <br /> interest rates of the 2025 Bonds to be redeemed, (iv) the date fixed for redemption, <br /> (v) any conditions to the redemption, as contemplated by subsection (b) above, (vi) <br /> the principal amount of 2025 Bonds or portions of Bonds to be redeemed, (vii) the <br /> applicable redemption price, (viii) the address of the place or places of payment, (ix) <br /> the Trustee's name and telephone number, and the name of a contact person, (x) <br /> that interest accrued to the date fixed for redemption will be paid as specified in the <br /> notice, and (xi) that on and after the established redemption date interest on 2025 <br /> Bonds which have been redeemed will cease to accrue. The Trustee must also <br /> include in any redemption notice any additional information provided by the County <br /> for use in the notice. <br /> Section 2.04. 2025 Bonds Payable on Redemption Date; Interest Ceases <br /> To Accrue. If on or before the date fixed for redemption funds are deposited with <br /> the Trustee to pay the principal of and interest accrued to the redemption date on <br /> 2025 Bonds called for redemption, the 2025 Bonds (or portions of 2025 Bonds) <br /> called for redemption cease to accrue interest from and after the redemption date. <br /> Thereafter, those 2025 Bonds (a) are no longer entitled to the benefits provided by <br /> this Agreement and (b) are not deemed to be Outstanding under this Agreement. <br /> Section 2.05. Mandatory Sinking Fund Redemption. (a) The Trustee, from <br /> amounts received from or on behalf of the County, will redeem 2025 Bonds <br /> maturing on October 1, 20 on October 1 in years and amounts upon payment <br /> of 100% of the principal amount thereof plus interest accrued to the redemption <br /> date, as follows: <br /> 8 <br />